The proceeds from the sale of the bonds authorized in RCW 43.99N.020 shall be deposited in the stadium and exhibition center construction account, hereby created in the custody of the state treasurer, and shall be used exclusively for the purposes specified in RCW 43.99N.020 and for the payment of expenses incurred in the issuance and sale of the bonds. These proceeds shall be administered by the office of financial management. Only the director of the office of financial management or the director's designee may authorize expenditures from the account. The account is subject to the allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures. At the direction of the office of financial management the state treasurer shall transfer moneys from the stadium and exhibition center construction account to the public stadium authority created in RCW 36.102.020 as required by the public stadium authority.
[ 1997 c 220 § 212 (Referendum Bill No. 48, approved June 17, 1997).]